Condo prices in Bangkok’s outer areas to be stable in 2017, survey indicates
CONDOMINIUM prices in the peripheral areas of Bangkok will remain stable this year, while prices for condos in the CBD and city fringe will increase slightly due to the limited new supply, according to a survey by Knight Frank Thailand.
New condominium units in the city fringe will compete with old condominium units in well-maintained buildings in the CBD since the price of newly built units in the city fringe will be higher than for old units in the CBD, Frank Khan, executive director and head of residential, Knight Frank Thailand, said on Monday.
He added that the Bangkok condominium market in 2016 continued to grow at a slower pace than in 2015 due to the Thai economic slowdown.
The supply from the peripheral Bangkok areas dominated the market with total launches making up about 76 per cent of the total supply in 2016. This is due to the development of the mass transit extension route to the suburban areas of Bangkok. Many developers have launched projects along the new mass transit route in these areas due to the availability of land at reasonable prices.
